Peregrine Trustee Seeks to Subpoena Banks on Transfers
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The trustee liquidating Peregrine Financial Group Inc. asked a judge for authority to subpoena the defunct futures brokerage’s banks including JPMorgan Chase & Co. and Citigroup Inc. for information about transfers from segregated accounts and proprietary accounts.
Citing a lawsuit by the U.S. Commodity Futures Trading Commission against the company and founder Russell Wasendorf Sr. over misappropriation of customer funds, the trustee said he needs records from “various financial institutions” to identify “abnormalities” in the company’s records.